How Online Bookies Use ‘Vig’ They Receive
Do you run an online bookie business? What is your profit? To many starters, it is a lucrative business to run a bookie business. Granted, it is. But did you know that it takes a long period for a bookie business to start recording profits? If yes, what is the profit margin? TopPayPerHead.com can help give you insight how to increase your profits online.
‘Vigorish’, ‘Juice’ or ‘Vig’ as it is simply put is the only thing that is left to a bookie after a hard day’s work. But you may ask, what is juice, vigorish or as said, vig?
These terminologies do not mean a different but the same thing. Whether you call it Vigorish, Vig or even Juice as many refer to it is the profit that pay per head or online bookies make at the end of the day from their business.
For you to run a successful bookie business, you have to get some profit. As usual, a legitimate business does not get much profit especially from a single source or client.
Normally, online bookie business is big. But the amount of money that is left for bookies is small. Although they are contented, using the ideal online bookie software, bookies earn a little share of what passes through their sites.
Vig is usually calculated at 10% from each customer that uses money on a bet. For instance, if you place a bet worth $100 on a team, and it happens that you lose, you will be required to pay $110.
The $10 that is above the betting amount of $10 is what remains for the bookie. Note that if the client wins, the bookie sufferers the $100 and what the player won, totaling to $110.
As usual, there are many loses when compared to wins. But it is important to learn as a bookie how you will handle this scenario before it gets out of hand.
The amount that you garner after losing on their different bets will be used to expand their bookie business. That is how bookie can make good use of the money that is left behind by customers that lost.
You should know that if for every $10 there is $1, which is ten percent of the total amount a player used on a pay per head site, then it means for an amount of $10, 000 used to pace bets, the bookie receives a juice of $1, 000.
That is a huge sum of money. Some bookies that have a lot of traffic as well as clients even pocket up to $10, 000 each single day.
With the use of the ideal online bookie software, serious bookies do not actually strive to much to get profit from their business. In fact, they only raise minimum bet. That way, clients will spend more and the Vig will automatically rise.
